Bill Text: NY A07343 | 2015-2016 | General Assembly | Amended

New York Assembly Bill 7343 (Prior Session Legislation)

Bill Title: Provides taxpayers with a modification reducing federal adjusted gross income for tuition paid at any higher education institution.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-03-09 - print number 7343a [A07343 Detail]

Download: New_York-2015-A07343-Amended.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                         7343--A
                               2015-2016 Regular Sessions
                   IN ASSEMBLY
                                       May 6, 2015
                                       ___________
        Introduced by M. of A. PICHARDO -- read once and referred to the Commit-
          tee  on  Ways  and  Means  -- recommitted to the Committee on Ways and
          Means in  accordance  with  Assembly  Rule  3,  sec.  2  --  committee
          discharged, bill amended, ordered reprinted as amended and recommitted
          to said committee
        AN  ACT  to  amend the tax law, in relation to providing personal income
          taxpayers with a modification reducing federal adjusted  gross  income
          for tuition paid at any institution of higher education
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subsection (c) of section 612 of the tax law is amended  by
     2  adding a new paragraph 44 to read as follows:
     3    (44) For taxable years beginning on and after January first, two thou-
     4  sand  sixteen,  the  amount  paid  by a taxpayer with a New York taxable
     5  income before the application of this paragraph of less than one hundred
     6  thousand dollars, for tuition at any  institution  of  higher  education
     7  within the state provided such expense is for tuition of the taxpayer or
     8  a  dependent  of  the  taxpayer  and  provided, however, that the herein
     9  authorized amount of the  deduction  shall  not  exceed  three  thousand
    10  dollars  multiplied  by  the  number of persons for whom such tuition is
    11  paid.
    12    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05811-03-6